Question

The Covid-19 pandemic creates opportunities and threats for practically every business in every industry. What strategic approach should a company pursue when dealing with a Black Swan event such as this? Why? While all companies have different criteria regarding the specific strategic decisions that will be made, ethical decisions are also very relevant and should be more consistent across industries and companies. Indeed, in many cases ethical decisions are likely the most important as the heath of employees, customers, and their families are at risk. If you were the CEO of a non-essential retail business, how would you handle the current crisis? Assume that simply shutting down the business for over 30 days would place the company at serious risk of bankruptcy.

Answer 1

Dear Student,

Below are the useful tips to cope with COVID-19 Virus without affecting so much business losses to company

1) Instruct to Employees to Work from Home as much as possible

2) Daily review of work progress via tele conference and Webex Meeting

3) Monitor daily work of each employees by fill up attendance sheet and work load (See attachement)

4) Communicate with all customers via Mails

5) Resolve all customer queries with help of online chat sessions

These are the tricks that can be sustain your business during COVID-19 and will not loss sale and result in bankruptcy.

Thank You !!